Tag Archive for: florida divorce

Why Your 457 Plan Might Be a Contingent Asset in a Florida Divorce, and What that Means for You

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For physicians, executives, and professionals working in government or the non-profit sector, a 457 deferred compensation plan often plays a key role in long-term financial security. These plans carry unique protections—and can contain unique risks—that require special attention during divorce.

In Florida, a 457 plan is considered a marital asset to the extent contributions occurred during the marriage, plus or minus passive gains or losses. But not all 457 plans are created equal. Whether your plan is governmental or non-governmental, 457(b) or 457(f), affects how it’s classified for division and what options are available to you.

Doctors and Non-Profit Executives Should Known: What Makes a 457 Plan Different?

A 457 plan is a type of deferred compensation plan that allows you to save for retirement. Unlike a 401(k) or IRA, ownership of the funds works differently depending on the type of employer and plan:

  • Governmental 457(b) Plans: Offered by state and local governments, these plans are held in trust or custodial accounts for the exclusive benefit of employees. This means they are protected from the employer’s creditors and are generally considered vested assets for purposes of divorce.
  • Non-Governmental 457(b) Plans: Offered by large non-profits—such as hospital systems or private universities—these plans are not held in trust. Instead, the assets remain part of the employer’s general funds until distribution, making them vulnerable to the employer’s creditors. These are considered contingent assets because your right to receive the funds depends on the employer’s financial health.
  • 457(f) Plans: These are often offered to highly compensated executives as “top-hat” plans. Unlike 457(b) plans, employees must meet specific conditions (like staying with the employer for a certain period) for the money to vest and for the employee to become eligible to receive the funds. If you don’t satisfy those conditions, you forfeit the balance. This makes 457(f) plans even more contingent and subject to greater discounts in divorce valuation.

To understand the key differences between these plans outside of the divorce context, learn more about 457 plans from Dr. Jim Dahle at the White Coat Investor here.

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Can Collaborative Divorce Work If We Don’t Get Along?

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If you’re going through a divorce and communication with your spouse is difficult—or downright hostile—you might assume Collaborative Divorce is off the table. Maybe you’ve heard it only works for couples who “get along” or “want the same things.” But the truth is, Collaborative Divorce is designed to help people exactly like you: spouses who are in conflict, but who want a better, healthier way to separate.

Let’s talk about how this works.

A Structured Process with Built-In Support

In Collaborative Divorce, each of you has your own specially trained lawyer who is committed to staying out of court. These attorneys aren’t opposing each other—they’re working as teammates to help you reach an agreement that meets your most important goals. You also get support from other neutral professionals, like a facilitator (a licensed mental health professional) and a financial professional.

The facilitator isn’t there to give therapy, but rather to help you communicate more clearly, manage emotions, and keep meetings productive. They are trained in conflict resolution and work with both of you together to help shift the conversation from fighting to problem-solving.

This team-based approach gives structure to your conversations. Instead of shouting matches or silent standoffs, you’ll have guided discussions where everyone works together to find solutions.

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Is Your Florida Law Firm a Marital Asset in Divorce? What Every Law Firm Owner Needs to Know

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As a law firm owner, you’ve built your practice with years of hard work, client relationships, and professional reputation. But when divorce enters the picture, you may be facing questions that strike at the core of everything you’ve created:

  • Is my law firm a marital asset?
  • Could my spouse be entitled to part of its value?
  • Will my partners be dragged into the process?
  • How can I protect my firm and my family?

If you’re navigating divorce in Florida, you need to understand not just the law, but also how to protect your practice and your peace of mind. For many attorneys and professionals, Collaborative Divorce is the answer.

Is a Law Firm a Marital Asset?

In Florida, the answer is often yes—at least in part.

If your law firm was started or grew during the marriage, it likely is considered a marital asset, even if your spouse is not a lawyer, had no direct involvement, and is not listed as an owner. The key factors to consider include:

  • When the firm was founded
  • How much the firm increased in value during the marriage

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Internal Family Systems Model: Bringing Compassion Into Divorce

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Going through divorce can stir up all kinds of emotions—anger, fear, sadness, even guilt. But for some, there may also be a part that feels relief—especially if you’ve been thinking about divorce for a long time and finally taken that first step. It’s not just about dividing property or deciding where the kids will live. It’s about navigating a major life change with all the different parts of yourself weighing in. One powerful way to make sense of it all is with the Internal Family Systems model, also known as IFS.

What is the Internal Family Systems Model?

IFS is a way of understanding yourself from the inside out. It helps you recognize that you’re made up of different parts—like the part of you that’s angry, the part that’s scared, the part that’s hopeful, and the part that just wants peace. These parts aren’t bad. They’re trying to protect you. But when one part takes over, it can be tough to communicate or make clear-headed decisions.

In the Collaborative Divorce process, we can use IFS concepts to help you tune into these parts and access your grounded, centered self—the one that can truly lead with compassion and confidence.

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How Doctors Divorce in Florida

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How Doctors Divorce in Florida: A Smarter, Private, Team-Based Approach

Divorce is challenging. But for physicians and their spouses, it can come with extra layers—like valuing a medical practice, protecting reputation and sensitive financial data, and balancing a demanding career with family obligations. If you or your spouse is a doctor in Florida, Collaborative Divorce offers a way to handle your separation with professionalism, privacy, and support.

At Family Diplomacy: A Collaborative Law Firm, we’ve worked with doctors and high-net-worth families across the state. We understand the unique financial and emotional dynamics at play—and how to guide you through them with dignity.

A Private Divorce Process That Respects Your Profession

Collaborative Divorce discussions and decisions take place outside of court. Instead of leaving decisions up to a judge, you and your spouse work with a team of professionals to reach solutions together. This is especially helpful when one or both of you are physicians with complicated schedules, licenses, or business interests at stake.

Just like you may work with other healthcare professionals in a hospital or practice setting—surgeons, anesthesiologists, nurses, administrators—a Collaborative Divorce uses an interdisciplinary team. Your team likely will include two lawyers (one for each of you), a neutral facilitator (who is a licensed mental health professional to deal with challenging conversations head on and craft a tailored parenting plan), and a neutral financial professional (to efficiently gather mandatory disclosure and help develop bespoke financial options). Each team member brings their own area of expertise to help the family function better and get through the divorce.

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Why LGBTQ+ Professionals Choose Collaborative Divorce in Florida

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As an LGBTQ+ professional, you may already be carrying the weight of navigating a world that does not always recognize or protect your family the way it should. Whether you are “out” or prefer to keep parts of your personal life private, these times can feel especially heavy. Sadly, you may feel like many LGBTQ+ families today—under attack—whether from unfair legislation, social judgment, or even your own community.

When you are going through a divorce, the last thing you need is to have your private life, financial matters, or parenting decisions laid bare in a public courtroom. That’s why many LGBTQ+ professionals turn to Collaborative Divorce—a private, respectful, and forward-thinking way to resolve family matters without fighting in court.

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Special Needs Children and Collaborative Divorce

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Going through divorce is never easy. But when you are raising a child with special needs, the challenges — both emotional and financial — can feel overwhelming. You need a process that protects your child, respects your family’s future, and helps you work through the difficult moments with dignity.

That’s where Collaborative Divorce can make a world of difference. At Family Diplomacy: A Collaborative Law Firm, we are here to guide you through this private divorce process with care, compassion, and expertise.

A Collaborative Facilitator Can Tailor a Parenting Plan for Special Needs

In a traditional Florida divorce, parenting plans often focus on basics like overall decision-making, weekly schedules, and holidays. But if your child has special needs, you already know that their world is more complex.

In Collaborative Divorce, a neutral Collaborative Facilitator — a licensed mental health professional — works with both parents to develop a parenting plan tailored to your child’s specific requirements. Some examples include:

  • Coordinating medical treatments, therapies, and specialized education
  • Managing transitions between households in a way that supports emotional regulation
  • Planning for transportation and access to services that may not be available in every community
  • Creating ways for both parents to participate meaningfully in decisions about your child’s care and development

Instead of battling over who gets “more time,” the Facilitator helps both parents stay focused on what your child needs most to thrive.

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St. Petersburg Divorce Lawyer Review: “[Sped] Up The Process…Eased the tension”

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I recently received a review from a divorce client on our St. Petersburg Google Page.  Please note that every case and circumstance is different, and I can’t promise the same or similar results in your matter.

It was a blessing to partner with Adam and Jennifer to help navigate me through the divorce process. They both were responsive, thorough and professional throughout the highs and lows of the process.

I found Adam’s advice to be logical, [rational] and while he certainly represented and protected my interests, he was also considerate and mindful to my ex-wife which was important to me. I believe this certainly [sped] up the process and eased the tension/relationship with her throughout the proceedings. He also took also took an intense interest in the protection and wellbeing of my son.

I will always be grateful to Adam and his team.

Five Stars.

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Divorcing in a Down Market – Pros and Cons

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Should You Divorce During a Down Market? Understanding the Pros and Cons
How market volatility, long-term investing, and the Collaborative Divorce process intersect

When the markets drop, your investments, retirement accounts, and even business valuations may look very different than they did just a few months ago. If you’re considering divorce in a time like this—especially after recent economic turbulence and tariffs—it’s natural to feel uncertain. But believe it or not, there may be strategic advantages to divorcing during a down market, particularly if you approach the process thoughtfully.

✅ Pro: A Unique Opportunity for Buy-and-Hold Investors

If you’re a long-term investor who believes the market will eventually recover (as history suggests it usually does), a down market may present a silver lining. Here’s why:

Let’s say part of your marital estate includes mutual funds, ETFs, or stocks that have dipped in value. If you receive those investments as part of your divorce agreement, you’re essentially getting more shares at a lower “price tag.” Over time, if the market rebounds, those shares may significantly increase in value—benefiting you in the long run.

In other words, if you’re a buy-and-hold investor, receiving a larger portion of your share of marital assets in investments during a downturn could position you well for future growth. You’re not just accepting lower-value assets—you’re planting seeds for potential recovery and wealth.

⚠️ Con: Lower Valuations Can Lead to Complications

Of course, not everything is rosy in a down market. If your marital assets include real estate, business interests, or retirement accounts, their reduced value may cause concern. One spouse might feel they’re losing out if an asset is divided when its value is temporarily depressed.

Also, dividing investments or retirement accounts during a low point can create tension, especially if one party is more risk-averse. This is where fear and conflict can escalate—unless you have a process in place to manage it.

🤝 How Collaborative Divorce Can Help

In a traditional court-based divorce, you may find yourself locked in a tug-of-war over who “wins” and who “loses” financially. But in a Collaborative Divorce, you and your spouse commit to resolving issues together, outside of court, with the support of a professional team.  Each of you have your own separate lawyers prohibited from taking your case to court and to give you independent legal advice, and there are usually also neutral specialists to help in finances and family dynamics.

Here’s how it helps in a down market:

  • Customized Financial Scenarios: A neutral financial professional can work with both spouses to explain investment values, simulate recovery scenarios, and suggest creative ways to divide assets based on both of your interests and risk tolerances—even in uncertain times.
  • Avoiding a Fire Sale: Collaborative teams counsel you to maintain the status quo until there is an agreement to do otherwise, which can help you avoid the rush to liquidate investments, allowing you to stay true to your long-term financial strategy.
  • Preserving Relationships: Especially important if you’re co-parenting, Collaborative Divorce helps you reduce stress and focus on your future, not just your fears.

👤 Led by a Trusted Collaborative Professional

Adam B. Cordover is a leader in Collaborative Divorce, having trained lawyers, financial professionals, and mental health experts throughout the U.S., Canada, Israel, and France. He also co-authored Building a Successful Collaborative Family Law Practice, a book published by the American Bar Association. With deep experience in complex financial matters, Adam can help guide you through divorce in a way that protects your goals and honors your long-term financial values.

💬 We Can Help

If you’re facing divorce during a volatile market, you’re not alone—and you have options. We can help you make informed, thoughtful decisions that protect your future. Contact Family Diplomacy: A Collaborative Law Firm by clicking the button below.

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Family Diplomacy: A Collaborative Law Firm has a virtual practice and represents clients in South Florida, Central Florida, and North Florida.  We also have offices in Tampa, St. Petersburg, and Sarasota.

Are Real Estate Syndications Considered Marital Property in a Florida Divorce?

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Real estate syndications have become a popular investment strategy for high-net-worth individuals and savvy investors seeking passive income and portfolio diversification. However, if you are facing a divorce in Florida, you may be wondering: Is my investment in a real estate syndication considered marital property? And if so, how is it valued and divided?

The answer depends on several factors, including when the investment was made, how it was funded, and whether any legal agreements protect it. In this post, we’ll explore how Florida law treats real estate syndications in divorce and what you need to know about valuation and division.

Are Real Estate Syndications Marital Property in Florida?

In Florida, marital property includes assets acquired by either spouse during the marriage, regardless of whose name is on the title or investment documents. Conversely, nonmarital (or separate) property includes assets acquired before the marriage, through inheritance, or via a gift from a third party.

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